Coca-Cola (NYSE:KO – Get Free Report) issued its earnings results on Tuesday. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02, RTT News reports. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the firm earned $0.68 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Coca-Cola updated its FY 2024 guidance to 2.800-2.830 EPS and its FY24 guidance to $2.80-$2.82 EPS.
Coca-Cola Trading Up 0.5 %
Shares of NYSE KO opened at $62.04 on Tuesday. Coca-Cola has a 1-year low of $51.55 and a 1-year high of $64.69. The business has a fifty day moving average price of $60.17 and a 200 day moving average price of $58.96. The stock has a market capitalization of $267.47 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95.
Coca-Cola Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.13%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. Coca-Cola’s payout ratio is presently 78.23%.
Insider Buying and Selling at Coca-Cola
Analysts Set New Price Targets
Several research analysts recently issued reports on KO shares. Citigroup increased their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Barclays upped their target price on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. cut their price target on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.22.
Read Our Latest Research Report on Coca-Cola
Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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